Adient (NYSE:ADNT – Get Free Report) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report issued on Wednesday, Zacks reports.
A number of other research analysts also recently commented on the company. Wells Fargo & Company upped their price objective on Adient from $28.00 to $32.00 and gave the stock an “overweight” rating in a research note on Thursday, June 25th. UBS Group cut their target price on Adient from $34.00 to $29.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $28.00 price target on shares of Adient in a report on Thursday, August 6th. Weiss Ratings lowered shares of Adient from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, August 21st. Finally, Wall Street Zen lowered shares of Adient from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Seven analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $26.30.
View Our Latest Stock Analysis on ADNT
Adient Price Performance
Adient (NYSE:ADNT – Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.08). The company had revenue of $3.93 billion during the quarter, compared to analyst estimates of $3.71 billion. Adient had a net margin of 0.32% and a return on equity of 7.32%. The business’s revenue was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.45 earnings per share. As a group, sell-side analysts expect that Adient will post 2.02 earnings per share for the current year.
Insider Activity
In related news, Director Peter Carlin sold 7,843 shares of the stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $19.25, for a total value of $150,977.75. Following the completion of the transaction, the director directly owned 38,835 shares of the company’s stock, valued at $747,573.75. This represents a 16.80% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.94% of the company’s stock.
Institutional Trading of Adient
Large investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP raised its position in shares of Adient by 5.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,384,904 shares of the company’s stock worth $88,614,000 after buying an additional 211,843 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Adient by 17.2% in the first quarter. Arrowstreet Capital Limited Partnership now owns 2,293,353 shares of the company’s stock valued at $46,349,000 after acquiring an additional 336,306 shares in the last quarter. Letko Brosseau & Associates Inc. boosted its holdings in shares of Adient by 5.3% in the fourth quarter. Letko Brosseau & Associates Inc. now owns 1,576,385 shares of the company’s stock valued at $30,219,000 after acquiring an additional 79,549 shares in the last quarter. SG Americas Securities LLC increased its stake in shares of Adient by 117.8% during the first quarter. SG Americas Securities LLC now owns 913,585 shares of the company’s stock valued at $18,464,000 after acquiring an additional 494,054 shares during the period. Finally, Bank of America Corp DE increased its stake in shares of Adient by 61.7% during the first quarter. Bank of America Corp DE now owns 792,543 shares of the company’s stock valued at $16,017,000 after acquiring an additional 302,538 shares during the period. 92.44% of the stock is currently owned by institutional investors and hedge funds.
About Adient
Adient plc (NYSE: ADNT) is a global automotive supplier that designs, engineers and manufactures automotive seating systems and related components. Its products include complete vehicle seats, seat structures, mechanisms, foam products, trim and other components used in passenger vehicles and commercial vehicles.
The company supplies automakers and supports vehicle programs across major automotive markets, including North America, Europe and Asia. Its operations include product development, engineering, manufacturing and assembly, enabling Adient to provide integrated seating solutions for a range of vehicle platforms and interior designs.
Adient became an independent public company in 2016 after being separated from Johnson Controls’ automotive seating business.
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